Sales made via conversational commerce channels (i.e., chatbots, digital voice assistants and messaging) will grow more than seven-fold from $41 billion in 2021 to $290 billion by 2025, according to a new report ($) from Juniper Research.
Half of that spend will occur via chatbots. And, by 2025, 90 percent of that, or $145 billion, will come from consumers in just three countries—China, Japan and South Korea. The report notes that the Asian nations have established chatbot ecosystems around popular messaging apps like WeChat, LINE and Kakao Talk.
“Revenue-sharing models will enable conversational commerce channels to monetize their services by levying costs on brands and enterprises, rather than the end users themselves,” said Sam Barker, the report’s author. “This revenue can be used to improve commerce channels to generate further investment from brands and enterprises.”